Companies should have a chart of accounts that accurately reflects the business. Your friend has started his

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Companies should have a chart of accounts that accurately reflects the business. Your friend has started his own landscaping business and developed a chart of accounts. He told you that his chart of accounts does not need to include the Cash account since he just deposits the cash into the bank when he receives cash from his customers.

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Is your friend correct? Explain why a chart of accounts needs to reflect the transactions of the business.

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College Accounting

ISBN: 1986

1st Edition

Authors: Jerry J. Weygandt, Paul D. Kimmel, Deanna C. Martin, Jill E. Mitchell

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Question Posted: Dec 17, 2019 08:26 AM

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Companies should have a chart of accounts that accurately reflects the business. Your friend has started his

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My friend who has started his own landscaping business DOES need to include a Cash account This is t...View the full answer

College Accounting

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